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but going over the fiscal cliff is serious business, and i'm here seriously trying to resolve it, and i would hope the white house would get serious as well. >> i don't understand his brain so you should ask him. it's been weeks, at least two weeks, since we met at the white house and we're still waiting for a serious offer from the republicans. >> let's bring in minnesota congressman keith ellison, who was just re-elected as co-chair of the progressive caucus. there are reports out there right now that a deal may be taking shape that involves $400 billion, maybe even more, in what they call entitlement cuts over ten years, mostly from medicare. the progressive caucus, you're the chairman, you have drawn a line in the sand saying it simply won't support entitlement cuts. here's the question. how far would you go to oppose this? >> well, you know, i got to know exactly what the composition of this deal is. i really have only heard the reports you just repeated, so it's difficult to know exactly what they're talking about. i mean, really, we're making -- you're calling on me to make a d
but going over the fiscal cliff is serious business, and i'm here seriously trying to resolve it, and i would hope the white house would get serious as well. >> i don't understand his brain so you should ask him. it's been weeks, at least two weeks, since we met at the white house and we're still waiting for a serious offer from the republicans. >> let's bring in minnesota congressman keith ellison, who was just re-elected as co-chair of the progressive caucus. there are reports out...
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coming up, a closer look at the fiscal cliff and how it could affect small businesses. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios >>> fiscal split. the two sides seem farther than ever apart after round one of talks. >> asphalt eruption. the story behind this 30-foot geyser on a california street. >>> a new yorker hit by hurricane sandy hits power ball for a million bucks. welcome back to "early start." i'm christine romans. >> i'm zoraida sambolin. 30 minutes past the hour. jitters for small business owners. president obama is calling for $1.6 trillion in tax spikes. john boehner is telling him to get serious. >> with 32 days left, the two parties are trading insults with 90% of americans facing higher taxes next year. small business owners want answers.
coming up, a closer look at the fiscal cliff and how it could affect small businesses. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios >>> fiscal split. the...
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. >>> the fight over the fiscal cliff is having an affect on small businesses right now. just as congress, the people running those businesses, they're not agreeing on a solution, but poppy harlow, she's got the perspective from the folks who are suffering. >> if any company, any business did the method of accounting as the government sdshgs we would be in jail. >> you sound like you've had it? >> yes, basically i have. >> debt is a cancer. that's what bob told me when we met him at his limousine company in freehold, new jersey. stoo here's the reservations. staffed 24 hours a day. >> reporter: he started the business back in 1984. today he has a staff of 75. 53 cars. one big question. >> i just want congress to tell me to come up with what the boundaries are so i know -- i know how to run my business. i know how to plan. >> he has laid off four employees in the last six months. he says the business made it through the stock market crash of 1987, the savings and loan crisis, and 9/11 with no decline in revenue until the financial crisis of 2008 and now this. >> could more
. >>> the fight over the fiscal cliff is having an affect on small businesses right now. just as congress, the people running those businesses, they're not agreeing on a solution, but poppy harlow, she's got the perspective from the folks who are suffering. >> if any company, any business did the method of accounting as the government sdshgs we would be in jail. >> you sound like you've had it? >> yes, basically i have. >> debt is a cancer. that's what bob told...
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cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> speaker boehner made very clear at his press conference that he thinks the ball is in your court and the president's court. he says democrats have got to get series about spending cuts. where is the disconnect? >> i don't understand his brain so you should ask him. okay? >> reid making those comments to our own kate bolduan. i'm joined by dan lothian. dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion
cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> speaker boehner made very clear at his press conference that he thinks the ball is in your court and the president's court. he says democrats have got to get series about spending cuts. where is the disconnect? >> i don't understand his brain so you should ask him. okay? >> reid making those comments to our own kate bolduan. i'm joined by dan...
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and even as a small business person, everyone talks about what the fiscal cliff could do to small business, what obama care can do for small business, but you said we shouldn't worry about that so much, that we should get some sort of compromise in order to keep moving and keep talking and keep moving forward? >> well, i think that it was pretty clear during the course of the election and since and even in the president's speech today where he said he's willing to give on some revenue and some spending cuts, he's proposed some, he's already passed some into law. and beyond that, just from my perspective, what i see is that we know that we're a confidence-based economy, we're 70% of the economy driven by consumer spending and anything that puts a crimp in consumer spending is not good for the economy. so to put a tax rise, a tax rate increase for the middle class makes no sense to me. someone who makes 50, 60, $70,000 a year will lose and will take away a lot of discretionary purchases from people like me and travel and a whole host of other areas. i hope our leaders in washington are liste
and even as a small business person, everyone talks about what the fiscal cliff could do to small business, what obama care can do for small business, but you said we shouldn't worry about that so much, that we should get some sort of compromise in order to keep moving and keep talking and keep moving forward? >> well, i think that it was pretty clear during the course of the election and since and even in the president's speech today where he said he's willing to give on some revenue and...
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while the fiscal cliff battle plays out, campaign politics marches on. >> i want to help create a better united states. >> we're less than a month removed from the 2012 election, but former south dakota governor mike rounds is already looking ahead to 2014, announcing a bid for the sfath. >> i'll be out visiting in a lot of communities around south dakota. >> and he was the second republican to do that this past week. joining congresswoman shelly moore of west virginia. while 2014 is a long way away, 2013 is just over the horizon. that's when new jersey's chris christie is up for re-election and the tough-talking republican governor's making clear he wants another term in office to help his state recover from superstorm sandy. >> i don't want to leave now. we have a job to do. that job won't be finished by next year. >> it may be the holiday season, but it seems there's no holiday from campaign politics. randi. >> paul, thank you. and a programming note, treasury secretary tim geithner talks with cnn's candy ycrowley. >>> debris comes crashing down on cars in a tunnel. more on the search
while the fiscal cliff battle plays out, campaign politics marches on. >> i want to help create a better united states. >> we're less than a month removed from the 2012 election, but former south dakota governor mike rounds is already looking ahead to 2014, announcing a bid for the sfath. >> i'll be out visiting in a lot of communities around south dakota. >> and he was the second republican to do that this past week. joining congresswoman shelly moore of west virginia....
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we're still worried about the fiscal cliff. this is touch and go here. markets finished up a little bit yesterday. but they came off the day's highs after downbeat comments from house speaker john boehner on ongoing fiscal cliff negotiations, which are more of a tiff than a solution at this point. >>> new mortgage rate numbers for you still near historic lows. 3.32%. everyone is shaking their head on the table. 2.64% for a 15-year fixed. now, interestingly is the cherished mortgage deduction on the table in the fiscal cliff talks? they are fighting hard to make sure that deduction doesn't go away. they say getting rid of it for any level of earners would hit the home sales just as they are coming back. who benefits the most? households earning more than $250,000 a year. average $5,500. for those making less than $40 it was only a $91 benefit. what will happen to america's favorite tax break? still big unknown in these fiscal talks. >> you have to believe it will not last 14 months the way it is. >> if you are on the coast and chicago, it is high. home pr
we're still worried about the fiscal cliff. this is touch and go here. markets finished up a little bit yesterday. but they came off the day's highs after downbeat comments from house speaker john boehner on ongoing fiscal cliff negotiations, which are more of a tiff than a solution at this point. >>> new mortgage rate numbers for you still near historic lows. 3.32%. everyone is shaking their head on the table. 2.64% for a 15-year fixed. now, interestingly is the cherished mortgage...
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but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> reporter: house democratic leader nancy pelosi quickly dismissed boehner's remarks as a negotiating maneuver. >> i think they'll come around. it's a tactic. it's a tactic. >> reporter: but you hear a strikingly similar message from other top democratic leaders saying the ball is in the republicans' court. >> we are waiting for some specifics somewhere from our republican colleagues to show that they're serious on negotiations. >> reporter: as the country fast approaches the fiscal cliff, the two sides are talking past each other. democrats say they've laid down their marker hiking tax rates on wealthier americans. and it's up to republicans to propose specific spending cuts they want to entitlement programs. however, republicans say they've offered a concession putting revenue on the table. and they say it's now up to the president and his fellow democrats to feel some pain and propose cuts in medicare and medicaid. confu
but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> reporter: house democratic leader nancy pelosi quickly dismissed boehner's remarks as a negotiating maneuver. >> i think they'll come around. it's a tactic. it's a tactic. >> reporter: but you hear a strikingly similar message from other top democratic leaders saying the ball is in the republicans' court. >> we...
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. >> and finding a way to steer clear of the fiscal cliff. the chief fiscal cliff negotiator tim geithner working with leaders to get things moving. there are just 33 days left to get a deal done. congress breaks for the holidays in just 15 days. dan lothian joins us. so the clock is ticking away. >> after the meeting the president had after he went to southeast asia the lawmakers were optimistic. now you are hearing some pessimistic as the clock winds down. you see the president pushing the bush era tax cut extension for middle class america. the white house doesn't believe this is the comprehensive solution, but part of a solution. they are reaching out to small business owners, sitting down with top ceos yesterday. he will head to pennsylvania tomorrow. you saw him at the white house with middle class america who e-mailed the white house about how they would be impacted if the middle class tax cuts were not extended for them. the president sounding optimistic that the deal can get done. >> our ultimate goal is an agreement that gets our lo
. >> and finding a way to steer clear of the fiscal cliff. the chief fiscal cliff negotiator tim geithner working with leaders to get things moving. there are just 33 days left to get a deal done. congress breaks for the holidays in just 15 days. dan lothian joins us. so the clock is ticking away. >> after the meeting the president had after he went to southeast asia the lawmakers were optimistic. now you are hearing some pessimistic as the clock winds down. you see the president...
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his side in these fiscal cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and getting outside of washington, d.c. congressional republicans not so happy that the president is doing this. >> we understand that. paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn contributor ryan lizza with us. john boehner and the president in a room, just the two of them. good idea? >> i think it is a good idea. >> if you look at the accounts of the negotiations of 2011 when you had boehner, mcconnell, nancy pelosi all in one ba bainer and the president who were on the phone meeting privately. they could go fwook their constituents and boehner could go to eric cantor and see what kind of deal they could get. but that was the dynamic that came the closest. >> they didn't have control of their parties basically right? does john boehne
his side in these fiscal cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and getting outside of washington, d.c. congressional republicans not so happy that the president is doing this. >> we understand that. paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn...
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. >>> priority number one right now for president obama is reaching a deal on the fiscal cliff. just 31 days left until we hit those automatic spending cuts and tax increases, if negotiations break down. here is what president obama had to say in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from beginning up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans onboard, i'll sign this bill as soon as congress sends it may way. but it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the wealthiest americans. >> in the republican response, senator orrin hatch takes that hostage met foaphor one step further. >> unfortunately, some on the other side of the aisle are proposing a disastrous thelma and louise strategy, putting our already weak economy in further jeopardy. >> president obama says he wants to get a deal done by christ
. >>> priority number one right now for president obama is reaching a deal on the fiscal cliff. just 31 days left until we hit those automatic spending cuts and tax increases, if negotiations break down. here is what president obama had to say in his weekly radio address. >> both parties say we should keep middle class taxes low. the senate has already passed a bill to keep income taxes from beginning up on middle class families. democrats in the house are ready to do the same...
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gridlock in washington over the fiscal cliff making stock investors really nervous. stocks are acting unpredictable. so watch out ahead here. companies should be making hiring and spending plans for next year. instead they're left wondering whether consumers are going to take home less money, and that government agencies can slash spending. a recipe for recession. i asked the ceo of fedex how companies plan ahead when washington is so dysfunctional. >> well i think most of the ceos look at the situation in washington with complete amazement and dismay, to be frank about it. the problem is, the ideological pinnings on both sides of this argument are so difficult to bridge, that it's going to be hard for them to get a deal. >> that's right. other ceos i talked to yesterday said they think it will be hard to get a deal, soledad and it's kind of a grim move right now in d.c. about how long it's going to take -- >> xavier becerra, it sounded like compromise could be on the table because they're going to come to this cliff deadline that will put pieces in place that maybe
gridlock in washington over the fiscal cliff making stock investors really nervous. stocks are acting unpredictable. so watch out ahead here. companies should be making hiring and spending plans for next year. instead they're left wondering whether consumers are going to take home less money, and that government agencies can slash spending. a recipe for recession. i asked the ceo of fedex how companies plan ahead when washington is so dysfunctional. >> well i think most of the ceos look...
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he hasn't decided to sit up and talk about the fiscal cliff, for example, and how he feels about it. he is talking about, in the context of a football game something that has just happened in sports to people who are well known and they're talking about a gun -- it's not not connected. >> it is connected to football because of the murder/suicide that preceded it. maybe his emotions and the emotions that surrounded that could have gotten in the way. i think that average people at home want to tune in, they want to get in their barcolounger, eat their chips and watch their game. >> usa today, nfl with a gun, wealth and celebrity can make a player a target and they go on to talk about how a lot of the players need to be armed because once they become famous and rich, you know, people can go after them. >> my problem is that we can no longer wall off sports because all kinds of labor issues and domestic issues intrude. if you are going to be a sports commentator like costas. of course you lose your popularity if you weigh in on this, because half the people in this country disagree with
he hasn't decided to sit up and talk about the fiscal cliff, for example, and how he feels about it. he is talking about, in the context of a football game something that has just happened in sports to people who are well known and they're talking about a gun -- it's not not connected. >> it is connected to football because of the murder/suicide that preceded it. maybe his emotions and the emotions that surrounded that could have gotten in the way. i think that average people at home want...